Troublemaking investor Carl Icahn has doubled his stake in Yahoo! despite sitting on a billion dollar loss from his first stake in the firm.
Icahn built up a huge stake in Yahoo! in May when shares were floating around $25. He tried, and failed, to get the board to accept a $33 a share offer from Microsoft.
According to an SEC …

Oh?!

new entry in the dictionary ...

I don't understand the numbers

"Carl Icahn has doubled his stake in Yahoo! despite sitting on a billion dollar loss from his first stake in the firm."

Icahn built up ..when shares were floating around $25.

..bought another 6.9 million shares - for less than $10 each."

I don't get the mathematics here. If he has doubled his stake, that means he initially bought 6.9 million shares for around $172 million. So how can he lose $1 billion from owning $172 million worth of shares?